South Korea's People Power Party Digital Asset Special Committee Chairman Kim Sang-hoon expressed concern at an academic conference about restrictions on exchange equity, calling for the prioritization of the second phase legislation of the Digital Asset Basic Law related to stablecoins to avoid missing the golden legislative window due to equity regulation disputes. He pointed out that the overseas circulation of Korean won stablecoin KRWQ challenges monetary sovereignty, advocating for laws that provide market predictability, offer clear guidance to operators, and establish user safety mechanisms.

MeNews

2026-05-21 02:46:03

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ME News Report, April 17 (UTC+8), South Korean National Power Party Digital Asset Special Committee Chairman Kim Sang-hoon stated at an academic conference that he is concerned about restrictions on equity ownership in cryptocurrency exchanges and called for prioritizing the advancement of the digital asset basic law related to stablecoins (second-phase legislation) to avoid missing the legislative golden opportunity due to equity regulation disputes. He pointed out that overseas, the issuance and circulation of the Korean won stablecoin KRWQ has already emerged, posing a serious challenge to monetary sovereignty. Kim Sang-hoon emphasized that laws should provide market predictability, offer clear guidance for operators, and establish effective safety mechanisms for users. (Source: ODAILY)

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GateUser-0d1088ad

· 6h ago

Is there any data on the circulating supply of KRWQ? Just shouting threats isn't specific enough.

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SummerNightColdWallet

· 8h ago

The Basic Law for Digital Assets has been in progress for so long and is still in the second phase. Korea's efficiency!

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WalletEarlyAccessAlarm

· 14h ago

KRWQ only thought about legislation after it was already in circulation, that reflex arc is a bit long.

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TwoFactorZen

· 14h ago

The term "golden legislative period" has come out, indicating they're really in a hurry.

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GasFeeSensitivity

· 14h ago

Kim Sang-hyun's statement is considered pragmatic; at least he's not solely calling for bans.

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PeonyMemo

· 14h ago

Predictability + user safety, nice words, but the key is in the implementation details

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CyberBridgeShadow

· 14h ago

Overseas Korean Won stablecoins challenge monetary sovereignty; this sounds familiar, countries are all shouting about it.

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MarginMom

· 14h ago

Shareholder restrictions and stablecoin legislation are two different matters; forcing them together is a bit deliberate.

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LimeMulti-Signature

· 14h ago

Let's quickly push forward with the second phase of the stablecoin basic law; don't wait until the market has run far ahead while regulations remain stagnant.

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Korean lawmakers call for prioritizing stablecoin legislation to prevent equity restriction disputes from delaying the process

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